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Latest StoriesRegulatory

Delhi HC Dismisses Plea to Oversee ED Probe into IREO Residences

NEW DELHI: The Delhi High Court has affirmed the Enforcement Directorate’s investigation into the real estate company IREO Residences and dismissed a petition claiming bias against the agency. Justice Manmeet Pritam Singh Arora issued the ruling on Wednesday, criticizing petitioner Gulshan Babbar for omitting vital information and imposing a fine of Rs 1.25 lakh for misleading the court. Babbar alleged that the Enforcement Directorate had failed to properly investigate financial discrepancies amounting to Rs 1,317 crore related to bank loans and land transactions in Gurugram. The High Court dismissed Babbar’s petitions due to lack of standing and maintainability. Published On…

IndustryLatest Stories

Gujarat’s 5 districts draw ₹5.03 lakh crore in real estate investments

AI-generated Representative Image AHMEDABAD: Since the Real Estate (Regulation and Development) Act (RERA) was implemented in 2017, Gujarat’s real estate sector has attracted investments totaling ₹5.03 lakh crore. Notably, 94% of this investment is concentrated in five key districts: Ahmedabad, Gandhinagar, Surat, Vadodara, and Rajkot. This concentration is largely attributed to rapid urbanization, improved infrastructure, and heightened demand for residential and commercial properties. In stark contrast, the remaining 28 districts—home to nearly two-thirds (64%) of Gujarat’s population—have garnered only 6% of the total investments. Experts express concerns about this uneven distribution of resources and emphasize the need for balanced infrastructure…

InfrastructureLatest Stories

Pune Residents Alarmed by Neglected Dilapidated Buildings in Camp

AI-generated Representative Image PUNE: Residents of the Camp are voicing serious concerns about the deteriorating conditions of local structures, holding the Pune Cantonment Board accountable for failing to take necessary repair actions. For years, these buildings have remained in a precarious state. Some residents are urging immediate repairs to prevent potential disasters, while activists and long-time inhabitants of Camp criticize the inaction by cantonment authorities. James Paul, former President of the Pune Cantonment Tenants’ Association, commented, “Every monsoon, the board puts out notices for property owners and publishes advisories for precautions. This is a lazy approach. We have repeatedly asked…

Latest StoriesRegulatory

Two More FIRs Filed Against Ansal Group in Lucknow

AI-generated Representative Image LUCKNOW: On Friday, two additional FIRs were filed against the Ansal Group at the Sushant Golf City police station, bringing the total number of cases against the real estate firm in Lucknow to 235. The recent complaints involve allegations of fraud totaling Rs 13.60 lakh from two individuals who were promised flats and plots but received neither possession nor a refund. According to police reports, Ram Awadh Singh, a resident of Marhad in Ghazipur district, had booked a flat in Ansal’s Sushant Golf City project back in 2015. He paid Rs 6.35 lakh with the expectation of…

IndustryLatest Stories

Noida, Greater Noida & YEIDA: Uttar Pradesh’s Crown Jewels, Minister Says

AI-generated Representative Image NOIDA: During a recent visit, Industrial Development Minister Nand Gopal Gupta ‘Nandi’ referred to the Noida, Greater Noida, and Yamuna Authority (YEIDA) regions as “the crown jewels of Uttar Pradesh,” mirroring the status of Kashmir for India. He emphasized that enhancing industry and investment is “our government’s top priority.” With the establishment of new units, the minister believes employment opportunities will grow, aiding Uttar Pradesh in its quest to become a top-performing state. To ensure timely project completion, Nandi urged senior officials of the Noida Authority to work on expanding the land bank and improve collaboration with…

Latest StoriesResidential

Yashwant Singh Purchases ₹100 Crore Bungalow in South Delhi

AI-generated Representative Image Yashwant Singh, a member of a royal family in Rajasthan, has acquired an 867-square-meter bungalow in South Delhi’s Golf Links for ₹100 crore. He paid ₹7 crore in stamp duty and corporation tax, according to documents from CRE Matrix, a real estate data analytics firm. The property was sold by Anu Jindal, a resident of DLF The Camellias. Jindal’s husband, Jai P. Jindal, who leads an art glass business, confirmed the sale, stating they intend to relocate to The Camellias. According to Jindal, the buyer belongs to a royal lineage from Alwar and also owns a bungalow…

Latest StoriesRegulatory

Clear ₹118 Crore Dues This Month or Project Canceled: YEIDA

NOIDA: The Yamuna Expressway Industrial Development Authority has set a final deadline for Greenbay Infrastructure to pay its outstanding dues of ₹118 crore by the end of July. If the payment is not made, the allotment of land for a 100-acre township in Sector 22D will be canceled. YEIDA officials stated on Friday that this represents the developer’s last opportunity to settle their debts, following a previous deadline of June 30. Last month, Greenbay requested an extension of two months for the payment, citing difficulties in obtaining full land possession. According to YEIDA’s latest notice, “If Greenbay Infrastructure does not…

IndustryLatest Stories

West Bengal to Allocate 20 Acres in New Town for Development

AI-generated Representative Image KOLKATA: The Bengal government plans to release approximately 20 acres of land in New Town Action Areas II and III for various purposes including residential, commercial, and mixed-use developments. HIDCO will auction these parcels via e-auction next month. Two plots of 4.1 acres each in Action Area II and three additional plots measuring 7.3 acres, 3.2 acres, and 0.6 acres in Action Area III have been earmarked for this initiative. The starting bid for the 7.3-acre parcel is set at Rs 292.2 crore, while the smallest 0.6-acre plot starts at Rs 26 crore. Officials noted that New…

Latest StoriesResidential

Karnataka Homebuyers Urge Action on Property Delays

BENGALURU: The Karnataka Home Buyers Forum has presented a memorandum to Chief Secretary Shalini Rajneesh, urging the state government to address long-standing issues that impact countless homeowners, particularly concerning ownership rights and regulatory gaps. “We want to highlight that homebuyers in Karnataka face significant challenges in asserting their ownership rights,” reads the memorandum. The forum detailed key obstacles and proposed solutions for the Chief Secretary’s consideration, advocating for the interests of millions affected. One major issue raised is the Bruhat Bengaluru Mahanagara Palike’s (BBMP) failure to update khata mutation records for apartment owners. Despite having registered their flats, many owners…

Latest StoriesRegulatory

Delhi Consumer Commission Finds DLF Gayatri Developers Liable

NEW DELHI: The Delhi State Consumer Disputes Redressal Commission has ruled that DLF Gayatri Developers is responsible for the delays in their housing project and for retaining the complainant’s funds for an extended period. The panel, headed by presiding member Bimla Kumari, ordered a refund of ₹15 lakh along with compensation for mental distress and legal costs totaling ₹1.5 lakh. The commission noted that the company had no right to utilize or withhold the complainant’s money, underscoring that the developer was obligated to secure labor for project completion. The commission observed that the complainant had paid approximately 75% of the…